Currency rises against the Dollar
The Nigerian currency has been suffering a steady decline since the price of crude oil fell, its sudden rise is a welcomed development for the country.
The Naira had a slight improvement against the Dollar during the week.
Recommended articles
![Zimbabweans have 21 days to exchange old banknotes for new ones (image used for illustration) [Reuters]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Zimbabweans have 21 days to exchange old banknotes for new ones (image used for illustration) [Reuters]")
According to the New Agency of Nigeria (NAN), the Nigerian currency gained N18 between Wednesday, June 8, 2016, and Friday.
The Naira however lost strength against other currencies by the British Pounds and the European Union Euro bill.
ADVERTISEMENT
Based on current rating the Naira is N515 per Pound and N405 per Euro.
Nigeria's currency started experiencing rapid decline during the general fall in the value of crude oil. A condition that led to major economic strain all over the world.
The improvement has been attributed to the availability of the Dollar currency to traders.
At the Central Bank of Nigeria currency window, the Naira remains N197 against the American Dollar.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
No need to run when EFCC invites you, Cubana Chief Priest advises Nigerians
Immigration places wanted Yahaya Bello on watchlist, unveils his passport details
Oyo govt justifies demolition of Yoruba Nation agitators’ building
NAFDAC raids popular supermarket in Abuja for selling counterfeit products
Iranian morality police crack down on women who don't wear headscarves
FG sets up committee to compensate landowners affected by Lagos-Calabar road project
Kano Gov remains a bona fide member of our party - NNPP debunks suspension
We need ₦3.2trn to pay electricity subsidy in 2024 - FG
Tinubu's proactive approach to security threats yielding results, Ribadu claims
Pulse Sports
Lionel Messi's son breaks the internet after scoring five goals for Inter Miami
Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe
Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024
ADVERTISEMENT